Zimbabwe Caps Government Gold Purchases at $300 Million
Zimbabwe has limited government gold purchases to $300 million this year in an effort to reduce exposure to fluctuations in global gold prices.
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Zimbabwe has limited government gold purchases to $300 million this year in an effort to reduce exposure to fluctuations in global gold prices.
Brent crude rose above $77 after President Trump said the memorandum of understanding with Iran was effectively over, lifting oil prices and pressuring U.S. stocks.
Central banks more than doubled their net gold purchases in May, led by Poland and China, as official institutions continued to increase their exposure to the precious metal.
Oil prices dropped below $68 per barrel after Qatar reported progress in indirect Iran-U.S. talks, extending crude’s decline to 43% from its recent peak.
Gold fell below $4,000 for the first time since November 2025, while gold and silver markets have lost an estimated $12 trillion in value.
Oil prices fell below $74 per barrel, reaching a 3.5-month low as hopes for a U.S.-Iran agreement continue to ease supply concerns.
Oil prices fell more than 7% below $76 per barrel as traders reacted to reports of a potential U.S.-Iran agreement.
The United States has become the world’s largest oil exporter, surpassing Saudi Arabia and Russia as record crude and fuel shipments reshape global energy markets.
Gold has gained more than 11,000% since 1971 while the U.S. dollar lost over 99% of its value against the metal.
Oil prices plunged nearly 10% in a single day as easing geopolitical tensions and expectations of a potential Iran agreement triggered a sharp commodity selloff.
Oil prices climbed after Trump said the U.S.-Iran ceasefire remains on “massive life support,” renewing supply disruption concerns.
Traders are increasingly positioning around the so-called ‘NACHO’ trade, betting disruptions in the Strait of Hormuz and elevated oil prices will persist longer than markets expect.
Brent crude oil plunged more than 11% as easing geopolitical concerns reduced fears of supply disruptions.
The UAE will exit OPEC and OPEC+ from May 1, aiming to increase oil production and better align with shifting global energy demand.
Condom prices could increase by up to 30% as the Iran war drives higher costs and disrupts supply chains, according to global producer Karex.